The Trade Plan

Trading is a Business

Trading must be treated as a business and respected. A business operates with a Business Plan and has operating costs, fixed and variable expenses, and requires record keeping. It is not a get rich quick scheme, and trading can make you poor quite quickly. For this reason I utialize a futures prop firm to reduce my overall business risk and maxamize my potential. Respect the market, have a plan, be consistent, trade less, reflect.

The Trade Plan

The Trade Plan is just my plan, it's how I will trade the session and view the market. What areas of intereste exist and the setups that I utilize to take trade based on setups and geomentry and homework done the night before.

I draw channels and mark off zones intraday and my levels (marked before the session) represet my area of interest, and simply follow intraday price action and observe the market auction. Price comes to me, I never chase. Miss a trade, another will setup give it time and be patient.

Price is the ulitmate indicator, it's all you need. Anymore than this is a distraction. A trader needs to learn to read price action and only needs a few setups. I occasionally put the VWAP on the chart as shown for a directional reference on the auction for my volume trend perspective.

Keep Things Simple

The Trade Plan trades and follows price action. Get rid of all the indictors and distractions and learn to understand price levels, behaviors, and time. In reality, one can easily develop a trading plan only knowing the price of yesterday high (yHOD), yesterday low (yLOD), and the settlement (yClose) price.

I trade futures exclusively intraday. I do not swing trade nor hold over settlement. I looks for a trade in my 90 minute trade window and want to be in and out of the market and hold a runner the rest of the session. If nothing sets up, I simply don't trade.

The best thing you can do is start with a prop firm. Your risk in the market is small, just the cost of the evaluation account. Once you pass the evaluation you work toward a live account payout, then take it, you earned it! If the account is lost either reset it, we all have bad days, or better, just let the accout subscription cycle over and practice in the mean time while you wait for the reset at account renewal.

To get started, check out Purdia capital.

I do not have any trade room or group. I provide my trade plan, educational commentary, as a service because I struggled and had to unlearn a lot of bad habits. My goal is to help others find a path to profitabily and learn to treat trading like a business.

If you like my content great, if my style of trading isn't for you, fine -- develop your own style.

The most important thing you can take away is to learn create and then trade a plan and treat trading like a business. If nothing else, get my book about how I view the market and trading, my setups rules, and how to create your own business plan and scale, and most importantly, just learn how a find your own pathway to profitability.

RISK DISCLOSURE

All content published and distributed by The Trade Plan LLC and its affiliates (collectively, the “Company”) is to be treated as general and educational information only. None of the information provided by the Company or contained herein is intended as (a) investment advice, (b) an offer or solicitation of an offer to buy or sell, or (c) a recommendation, endorsement, or sponsorship of any security, company, or fund. Testimonials appearing on the Company's websites may not be representative of other clients or customers and is not a guarantee of future performance or success.

Use of the information contained on the Company's websites is at your own risk and the Company and its partners, representatives, agents, employees, and contractors assume no responsibility or liability for any use or misuse of such information.

Futures trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the investor's initial investment. Only risk capital—money that can be lost without jeopardizing one's financial security or lifestyle—should be used for trading and only those individuals with sufficient risk capital should consider trading. Nothing contained herein is a solicitation or an offer to buy or sell futures, options, or forex. Past performance is not necessarily indicative of future results.